Not sure if this is a bug or not, but not the behaviour I would have expected. Our fiscal year in Australia is 1 July to 30 June, which I have set in General Settings. My oldest accounts start on 1 January 2013. I was running an Income and Expense report using (all dates) in the Range setting and notice the fiscal year amounts were incorrect. After a bit of investigation, I found if I set the (User Defined) Range to the fiscal year start of 1 July the reports were correct. I would have thought that the report would use the General Settings value as the start of each year vice the start date in the range field.
Incorrect Fiscal values
Setting the Fiscal start date in the report correct the values
Also these are USD native currency even though the report says they are in Australian Dollars (unticked Convert Values to Base Currency).